The ownership of the Rio All-Suite Hotel could be changing hands soon.
The Harrah's owned Rio has been rumored to be on the selling block for some time now. I remember hearing that Penn National wanted to buy it a few months ago.
Now Starwood and Colony Capital seem to be the main bidders according to Bloomberg Businessweek. The property is estimated to be worth about $500 million.
Harrah's has a huge about of debt, but that didn't stop them from acquiring Planet Hollywood recently. I'm guessing that now that they have another strip property, they want to pay down that debt a little bit, and the off strip Rio has become expendable.
Saturday, April 24, 2010
Friday, April 23, 2010
George Wallace on Late Late Show with Craig Ferguson
Flamingo comedian George Wallace - "The New Mr. Las Vegas" as he likes to be called - had a funny appearance on The Late Late Show with Craig Ferguson.
Thursday, April 22, 2010
MGM Mirage = MGM Resorts International
MGM Mirage will change its name to MGM Resorts International the company disclosed in a filing Tuesday:
"This name better reflects the fact that we are a family of hotels," spokesman Alan Feldman said.
Mr. Feldman said some people misinterpreted MGM Mirage name to mean the company owned just two hotels—MGM Grand and Mirage.
The company also wanted to add "International" to the name to reflect its intention to grow its presence internationally, Mr. Feldman said.
I'm not sure I agree with the logic of this name change. People who follow the business know that MGM Mirage owned more than 2 hotels, and people who don't know this probably don't care anyway. Most people walking the strip have no idea who owns what in Las Vegas. I guess a hyphenated name is a little silly also though, so maybe this is a good move.
Story: Wall Street Journal.
"This name better reflects the fact that we are a family of hotels," spokesman Alan Feldman said.
Mr. Feldman said some people misinterpreted MGM Mirage name to mean the company owned just two hotels—MGM Grand and Mirage.
The company also wanted to add "International" to the name to reflect its intention to grow its presence internationally, Mr. Feldman said.
I'm not sure I agree with the logic of this name change. People who follow the business know that MGM Mirage owned more than 2 hotels, and people who don't know this probably don't care anyway. Most people walking the strip have no idea who owns what in Las Vegas. I guess a hyphenated name is a little silly also though, so maybe this is a good move.
Story: Wall Street Journal.
Wednesday, April 21, 2010
The Next Big Las Vegas Headliner - Terry Bradshaw?
Michael Hiestand of USA Today is reporting that Terry Bradshaw might be preparing for a Las Vegas Show:
Fox's Terry Bradshaw begins rehearsals next-month for a one-man Las Vegas show that, he says, will be "kind of a Mark Twain thing where he'd give his philosophy of life and people would listen." Bradshaw says "he's not going to do it unless it's really good" and "for Vegas, it has to have a lot of humor." So, he says, "I'm coming out in a spandex thong thing to get the crowd going." He's probably joking.
At first this seems like a crazy idea, but I think Bradshaw might have enough appeal to make this a success, at least for a little while. We'll have to see if this actually happens.
Source: USA Today.
Fox's Terry Bradshaw begins rehearsals next-month for a one-man Las Vegas show that, he says, will be "kind of a Mark Twain thing where he'd give his philosophy of life and people would listen." Bradshaw says "he's not going to do it unless it's really good" and "for Vegas, it has to have a lot of humor." So, he says, "I'm coming out in a spandex thong thing to get the crowd going." He's probably joking.
At first this seems like a crazy idea, but I think Bradshaw might have enough appeal to make this a success, at least for a little while. We'll have to see if this actually happens.
Source: USA Today.
Tuesday, April 20, 2010
Cirque to develop Michael Jackson Show
Cirque du Soleil will develop a show based on the music of Michael Jackson. A touring version of the show will begin in 2011, followed by a permanent show in Vegas starting in 2012.
Part of the deal will also include a Jackson themed nightclub at the hotel where the show will be. That hotel hasn't been announced yet, but it will be a MGM Mirage property.
Off the top of my head the property that makes the most sense would be Mandalay Bay. They are the best MGM hotel without a Cirque show at the moment. Anything can happen between now and 2012 though, so the show really could end up almost anywhere. Monte Carlo perhaps to replace Lance Burton? Luxor to replace Criss Angel down the road? MGM Grand if KA is struggling? Aria if the Elvis show is a flop? Really almost anything is possible. I think Love is pretty safe so it won't be at Mirage. Same thing for O and Bellagio. Excalibur and Circus Circus are off the list just because they are on the low end. I guess time will tell.
Source: Reuters.
Part of the deal will also include a Jackson themed nightclub at the hotel where the show will be. That hotel hasn't been announced yet, but it will be a MGM Mirage property.
Off the top of my head the property that makes the most sense would be Mandalay Bay. They are the best MGM hotel without a Cirque show at the moment. Anything can happen between now and 2012 though, so the show really could end up almost anywhere. Monte Carlo perhaps to replace Lance Burton? Luxor to replace Criss Angel down the road? MGM Grand if KA is struggling? Aria if the Elvis show is a flop? Really almost anything is possible. I think Love is pretty safe so it won't be at Mirage. Same thing for O and Bellagio. Excalibur and Circus Circus are off the list just because they are on the low end. I guess time will tell.
Source: Reuters.
Monday, April 19, 2010
SKYBAR opening at Hard Rock
As part of the $750 million hotel expansion, the Hard Rock is announcing a new pool / lounge. SKYBAR is located above the Hard Rock Beach Club and will offer party-goers an exclusive day to night atmosphere.
SKYBAR has been a hotspot in LA for 14 years, and the Las Vegas location will look to re-create that success. When I first read the press release I was thinking this sounds like a mini "rehab" but it might be a little more low key.
Source: Hard Rock Press Release.
SKYBAR has been a hotspot in LA for 14 years, and the Las Vegas location will look to re-create that success. When I first read the press release I was thinking this sounds like a mini "rehab" but it might be a little more low key.
Source: Hard Rock Press Release.
Sunday, April 18, 2010
The Next Big Las Vegas Headliner - Larry King?
Larry King is returning to Las Vegas as he will headline a show at the Palm's Pearl concert venue on June 11th.
The senile King headlined at Wynn last June stand-up, storytelling and a question-and-answer session. Apparently that show was successful enough to bring Larry back to Vegas for another go-around.
No word if Larry will talk about any or all of his 8 divorces.
The senile King headlined at Wynn last June stand-up, storytelling and a question-and-answer session. Apparently that show was successful enough to bring Larry back to Vegas for another go-around.
No word if Larry will talk about any or all of his 8 divorces.
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